"Stocks Find Footing as Powell Dampens Rate Cut Hopes, Yields Plunge"

The Dow Jones Industrial Average rose 0.8% despite Fed Chair Jerome Powell's cautious stance on interest rates. Powell stated that it would be premature to conclude that a sufficiently restrictive stance has been achieved. However, financial markets reacted as if Powell was more dovish, leading to a plunge in the yield on the 10-year Treasury note. In other news, Tesla's stock fell after the launch of its Cybertruck due to concerns about longer wait times and a high price tag.